Wednesday close, Dec 3
Several resource issues made solid gains during the week. First City Gold Corp., was one of the bigger winners, adding 85 cents to close at $3.35. The company, which made our most active list, is working in the La Ronge area of northern Saskatchewan and in Casa Berardi, Que.
Pan East Resources and Oracle Resources were also movers, gaining 40 cents and 50 cents respectively. Pan East, which traded to $1.25, is active in the Maritimes with a gold play. Oracle however, was making up lost ground after experiencing a price tumble two weeks ago.
Savanna Resources churned through almost 400,000 shares adding 7 cents to 65 cents . The company is planning a decline ramp at its Turner- Albright polymetallic deposit near the Oregon-California border. Stockman Energy, which is searching for platinum in the Ungava area of northern Quebec, traded quietly at 12 cents . The company reported encouraging results from preliminary prospecting completed this fall on its properties.
Barron Hunter Hargrave Strategic Resources finally made an advance, climbing 14 cents to 40 cents . The company, which was a volume leader last week, is planning to bring a titanium deposit near Mine Centre, Ont., into production next year.
A decison to build a winter road to the Seabee gold property, controlled by Claude Resources and Placer Developments, will be made within two weeks, a Placer spokesman tells The Northern Miner. Although noncommittal about which way the decision will go, Placer has completed logistical preparations and is ready to go if a greenlight is given. Claude remained quiet at $3.65.
Zahavy Mines and joint venture partner Getty Resources are planning a underground program at their Favourable Lake gold property north of Red Lake, Ont. Zahavy traded at $1.70, up 30 cents .